A recent fire incident took place the Bangalore Bioinnovation Centre (BBC) facility on 15th January, in the early morning hours, which has caused significant damage to the Centre's infrastructure and equipment.

According to reports, the damage caused due to the fire amounts upto Rs 150 crore.

"We are relieved to share that no injuries were reported, and we remain committed to addressing the situation with resilience and determination. As a result of this incident, we will be temporarily halting operations to ensure a thorough recovery process", as per the statement released by BBC.

The media reports have revealed that the fire started around 4:35 AM on Wednesday, in a lab on the second floor due to improper handling of flammable solvents. The incident caused damage to the revamped second floor, which had been designed to accommodate more startups. The fire also caused extensive damage to the first and ground floors due to interconnected HVAC lines.

"It is heartbreaking to witness years of hard work and dedication by our entrepreneurs reduced to ashes. I want to reassure them that the government stands firmly by their side and will do everything we can to support them in rebuilding and bouncing back", said Priyank Kharge, Minster for IT BT, Government of Karnataka.